Swelect Energy Systems has acquired 8% equity shares in Amex Alloys, Coimbatore, on July 08, 2013. The company was holding 92% equity shares in Amex Alloys and with the aforesaid acquisition of 8%, Amex Alloys will become a 100% wholly owned subsidiary of the company, with effect from July 08, 2013.
Swelect Energy was formerly Numeric Power Systems, a major player in the Uninterruptible Power Supply business. Last year, Numeric Power sold its UPS business and decided to concentrate on solar power and was renamed Swelect Energy.
